Halwani Bros Co.’s board of directors has recommended a 10 percent capital hike to SAR 314.29 million from SAR 285.71 million through the issue of bonus shares.
The capital hike aims to boost the company’s capital to match its business size and future plans.
The process is pending approval from the general assembly and regulator.
|
Key Figures of the Capital Hike |
|
|
Current Capital |
SAR 285.71 mln |
|
Number of shares |
28.57 mln |
|
Hike (%) |
10% (1 share for every 10 shares) |
|
New Capital |
SAR 314.29 |
|
New number of shares |
31.42 mln |
|
Record date |
General assembly meeting |
|
Method |
Capitalizing SAR 28..57 mln from retained earnings account |
|
Driver |
To boost the company’s capital to match its business size and future plans. |
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